Coal demand - All posts tagged Coal demand

Renewable power has cut for itself a bigger share of the world’s energy demand pie, but coal, which remained the fastest growing fossil fuel, and oil, also saw demand grow in 2013, BP PLC said Monday.

Coal consumption grew 3% in 2013, below its yearly average of 3.9% but enough to put coal’s share of world energy consumption at 30%, its highest since 1970, BP said in its 63rd annual statistical review on Monday. The review is an industry benchmark.

Demand from renewable energy sources, including wind and solar, rose to a record 2.7% of global energy consumption, up from 0.8% a decade ago, the energy company said.

Global demand for coal will continue to grow in the next five years, albeit at a more modest pace, the International Energy Agency said Monday in its medium-term outlook for the fuel.

Bloomberg

Demand will grow 2.3% a year through 2018, compared with a 2012 forecast of 2.6% for the five years through 2017 and actual growth rate of 3.4% a year between 2007 and 2012.

“Like it or not, coal is here to stay for a long time to come,” IEA Executive Director Maria van der Hoeven said. “Coal is abundant and geopolitically secure, and coal-fired plants are easily integrated into existing power systems.”

Although it is “easy to see” why coal demand continues to grow, it is “equally important to emphasize that coal in its current form is simply unsustainable,” she added.

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